A widely followed cryptocurrency trader is leaning bullishly on a large-cap Ethereum (ETH) challenger, believing the altcoin is still in an uptrend.
The trader pseudonym known as Altcoin Sherpa tells With its 238,400 followers on social media platform X, Solana (SOL) is poised to go “much higher” in the coming weeks and months.
However, the pseudonymous analyst says Solana will only rise if Bitcoin (BTC) remains “stable.” According to analysts, any solid pullback from Solana should provide an attractive entry opportunity.
Looking at the trader’s chart he seems to suggest that SOL will meet resistances at $228, $243 and $264. Solana is trading at $198 at the time of writing.
The following is the native token of the decentralized open financial system Hyperliquid (HYPE). The pseudonymous analyst say that HYPE could rise about 129% from current levels before the end of the current cycle.
“I wouldn’t exactly call this bullish on lower timeframes, but still think it heads to $50+ before the end of the cycle.”
HYPE is trading at $21.85 at the time of writing.
In the broader crypto market, the pseudonymous analyst thinks digital assets have more room for upside breakouts this cycle.
“We have never experienced anything like the euphoria of it being a summit in my opinion.
You might be able to argue that there won’t be the same kind of euphoria as in previous cycles, due to dilution, concentrated pumping and more. But I still don’t think it’s over.”
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Generated image: Midjourney